Hi all,What a superb prezzo published yesterday. Most notable...

Hi all,

What a superb prezzo published yesterday. Most notable are two aspects to the prezzo on pages 10 and 19 relating to the NPV of Heemskirk and the higher grade of Heemskirk relative to other projects globally. 3rd highest grade in the world and best grade in Australia. The grade is double of the Rentails project which is in very, very close proximity to Heemskirk.

Given the busines is well-capitalised now, a acquirer will need to pay a nice premium to the current valuation. Taking the NPV table into consideration, you can come to an approximate conclusion on what SRZ management and BoD believe the assets are worth using conservative figures from the table..

With a weak AUD and flying tin price, a well capitalised BS and Rusty and Nero now onboard, there are clear catalysts to a further share price re-rate IMHO.

Settlement of tranche 2 is in a few days..